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From CNBC-TV18
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Crude surges to $114/bbl on scattered pipelines, weak $
2008-04-16 12:34:45 Source : Power Breakfast/CNBC-TV18
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Crude surged to a new high of USD 114 per barrel. This was mainly due to scattered pipeline interruptions and a weak dollar, which put pressure on a tight global market. Prices have risen more than 18% since the beginning of the year.
Infact, Britain's Prime Minister, Gordon Brown has called on the OPEC to boost production to counter rapidly rising oil prices.
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